1. Field of the Invention
The present invention generally relates to an electronic gift key enabling a purchaser to deliver a single, fully-integrated gift item to a recipient including an electronic greeting card and redeemable store credits. Specifically, the invention includes a system and method whereby an electronic gift key, comprising a decorative housing with integrated circuit and memory therein and an interface projecting therefrom, is linkable to a computer either physically or wirelessly, thereafter launching a website at a host site so as to allow a purchaser to customize a greeting card and also allow a recipient to access the customized greeting card at the host site and/or redeem store credits associated with the gift key at a retail and/or host website.
2. Background
Gift certificates and gift cards enjoy ever increasing popularity because of their convenience and ability to allow a recipient thereof to redeem store credits for the purchase of items desired by a recipient, rather than gifts chosen by a purchaser.
Gift certificates and cards are essentially the same, except that gift cards automate the checkout and accounting processes via a barcode or magnetic strip which is scanned or swiped at the time of purchase and use.
Gift cards may or may not have an assigned value prior to purchase. For example, some gift cards have no value until they are sold, at which time a cashier enters the amount which a buyer wishes to associate with the card. This information is rarely stored on the card, but rather stored in a database operated by a retailer which is cross referenced to the card via an identifier when a transaction is processed. Other gift cards, often referred to as stored-value cards, have a fixed value which is stored directly on the card and updated after each transaction. Stored-value cards eliminate the need for checkout and accounting processes at a remote site, thus simplifying network support requirements.
Counterfeiting is a major problem with gift cards typically mitigated via encryption methods and card design. Encryption methods are generally not robust given the relatively low monetary value assigned to gift cards. In terms of card design, a magnetic strip is often placed at a location along the card to prevent compatibility with many read/write devices.
Furthermore, gift certificates and gift cards require the purchaser to buy a non-customized greeting card separate and apart from the certificate or card. This reduces both perceived and actual convenience of gift certificates and cards.
Finally, gift certificates and cards require the purchaser or recipient to travel to a physical location operated by a retailer for the purpose of redemption. As such, many gift certificates and cards are never used. These lost transactions also include lost interactions during which advertising and marketing activities are possible to encourage impulse purchases beyond the value associated with the certificate or card.
As is readily apparent from the discussions above, the related arts do not include a decorative gift item physically presentable to a recipient by a purchaser whereby the gift item enables the purchaser to electronically customize online content for the recipient and further enables the recipient to access the customized content and redeem store credits at one or more online retail sites.
Therefore, what is required is a system and method which allow for the purchase, transfer, and use of a single physically-based gift item, enabling access to an electronic greeting card and redeemable store credits via the internet in a secure, convenient, customizable, and controllable manner.